Thanos Vamvakidis - Bank of America Merrill Lynch

Last quote by Thanos Vamvakidis

Momentum can be very powerful. Many people were surprised the euro did not appreciate more after the French election. Last week, we saw the strongest flows into equities ever. ... All the markets were expecting Macron to win. Still, when it happened, it was bullish for markets. The European data has been improving for most of this year. This clearly increases the chances the ECB will announce tapering QE [quantitative easing] in the next few months, most likely September.feedback

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This page is completely dedicated to what Thanos Vamvakidis has to say. All of Thanos Vamvakidis’s quotes are organized here by date and topic. The most recent quote attributed to Thanos Vamvakidis came from an article called Euro in 'trend change, ' as dollar gets thumped on US political risk, lowered Fed expectations: “We have been saying the euro-dollar outlook is mixed because of what we think about the next few months. It does depend if the Fed hikes rates in June or September or December. When are they going to start unwinding the balance sheet?”.

Thanos Vamvakidis quotes

When you compare sterling with the data, cable (the dollar-pound trade) should be closer to $1.35, rather than $1.25. As long as the data remains strong, this is most likely a buying opportunity eventually.feedback

We are seeing a (confidence shock) earlier than we had expected. It seems that investors and consumers are already in a wait and see mode and this could continue. It's very likely that the U.K. will experience a recession.feedback

We are going to have a new 'normal' and we don't know how it will look like and it will take time. They (the government) cannot activate Article 50 any time soon because they don't have the staff, they don't have a plan and they don't have a strategy and even after they activate it, this will be a very long process. So this is not a one-off shock, this is the beginning of a long process and we don't know what will be the outcome.feedback

Quotes by Thanos Vamvakidis

May 17 2017

We have been saying the euro-dollar outlook is mixed because of what we think about the next few months. It does depend if the Fed hikes rates in June or September or December. When are they going to start unwinding the balance sheet?feedback

The data in the first quarter, particularly March, was weak, and the market was expecting the April data to improve. While it's improving, it's not improving by as much as the market was expecting. A week ago, it was a done deal. Now it's not fully priced in.feedback

I don't know if it affected directly the market but definitely anything that distracts the U.S. administration from tax reform is not good news for the dollar. We started the year with the market following Trump's tweets and responding to them. More recently, they ignored them but they do focus on anything that could increase the uncertainty and particularly the chances for tax reform...all the things that could impact implications for policy. This is a key reform for President Trump and the Republican Congress, and it will cost them politically if they fail to do tax reform.feedback

(That is) extremely important and I don't think the market is focusing enough on this issue…. The Brexit negotiations will take two years (and) we know that the new trade agreement between the U.K. and the EU will take much longer. Usually it takes seven to ten years, (look at the) Canada deal with the EU which took seven years.feedback

You need something in the interim period, a transition agreement. Without it you go to the WTO rules, this is why agreement transition or not has binary implications… if you have an agreement then we can see cable well above 1.30, if you don't it can go as low as 1.10. Without a transition, you don't have just a hard landing; you have an over-shooting because the WTO rules are much worse than any possible trade deal. This is why we believe it is in the benefit of both sides to avoid the WTO cliff and have an agreement and a transition period.feedback

Brexit uncertainties are very much relevant for this sector. However, although banks may have some plans under different scenario to relocate, they have done nothing so far to change their behavior after Brexit. Eventually if the financial sector has to move it will be a very severe shock for the economy but for now nothing has really changed.feedback

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